HUD Announces New Goals
For Homeowner Lending

By

Jerry Guidera Dow Jones Newswires

Updated March 2, 2000 9:16 p.m. ET

WASHINGTON -- In an effort to boost the home-ownership rate of minorities and other disadvantaged individuals, the U.S. Department of Housing and Urban Development unveiled new goals for Fannie Mae and Freddie Mac aimed at sharply increasing lending to low- and moderate-income families.

The proposed lending goals have the reluctant backing of the two governmentsponsored enterprises. The two lenders would be forced to focus a greater share of their mortgage-loan repurchasing in the secondary market on financing for low- and...